All Forum Posts by: Ross Bowman

@Ross Bowman Solar can be quite cost prohibitive and it's highly dependent on where you live if it makes sense. I would recommend a website called EnergySage to get you started. There is an incredible amount of data and info on there. For example you can find your average cost per kWh there and see if it's cheaper (on your time horizon) to get panels. For me the math was easy b/c I'm on propane for all of my fuel needs, and propane is $$$.

I live in the CA mountains of a high desert, so I have an 80+ sun score which yields far more power than I can use. Additionally, with the fire risk in my area we experience a significant number of mandatory power outages to mitigate fire risk, so those panels (plus the back up battery) actually added a significant amount of value to my home. I just had it reappraised to remove my PMI, and the appraiser included 100% of the cost to the home value.

Not quite the same as @Ross Bowman is suggesting, but I too am using BTC mining to off set costs in my primary residence.

I live in an area with expensive costs for electricity and heating fuel, so I did the math and found that mining BTC could yield savings. For me, my BTC mining allows we to heat the 2nd floor of my home, get additional exposure to BTC with compounding interest of 4.5% APY via BlockFi, and since I report my mining I get to do MACRs on my solar panels (which power my miners and the rest of my house) and the mining equipment. Needless to say it's a wonderful way to save money/invest while living in California.

@Ross Bowman

Must be tough when your self congratulatory nonsense is exposed and your ego takes a hit. If you actually have an INNOVATIVE strategy I’m sure all us EXPERIENCED investors would love to hear it.

@Ross Bowman

Not sure how covering your mortgage payment on real property with the profits from a separate business endeavor qualifies as “innovative”. If the mortgage in question is on your personal residence, everyone else who owns their own home covers their mortgage with business profits, investment income or employment earnings. The fact that you have a business mining Bitcoin is no different in this context from owning a clothing store, managing a venture capital partnership, or singing professionally.

If the mortgage is on a commercial or investment property, and either it’s not income producing or has a negative cash flow, then that’s no different then about half our borrowers who need outside sources of income to “feed the alligator”.

Guess I’m just not wowed by the fact that you’ve invested enough in hardware and power to turn a profit mining Bitcoin.

@Ross Bowman I love that strategy. Nice work! I would set some cash aside for tax time as I believe mining will be seen as a taxable event. Just a thought. keep it up. 

Can you do a Heloc? How large is the garage? Is it on a slab and are your having to dig up the slab for plumbing? 

Hey Ross! Smart moves! I'd recommend checking your local zoning to make sure you can legally turn the SFH into a Multi Family. Otherwise, more power to you! STR can bring a good cash flow. Automate it as much as you can!